Aug. 16 at 9:14 PM
$LAB When Michael Egholm took over in 2022, shareholders were promised a top-quartile life science tools company within 3–5 years.
We believed it. We endured massive dilution to build it.
Instead, SomaLogic was acquired and then sold to Illumina for
$350M upfront. LAB later took another ~
$30M to surrender the remaining earnout and future royalties. Mass Cytometry is being sold for up to just
$10M, Microfluidics is next, and ~
$450M of net cash is being committed to Treeline while LAB shareholders are left with only ~16%.
Four years later, the stock sits near
$0.71.
I have personally lost millions believing in the strategy we were sold.
This company is behaving like it’s bankrupt—dismantling assets shareholders financed despite having hundreds of millions in cash.
Whose interests have actually been served here?
